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HDBank's 2024 earnings exceed targets
Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) announced strong fourth quarter and financial year results on January 24, with profit before tax exceeding VND16.7 trillion ($665.8 million), completing its target by 106 per cent with a 28.5 per cent increase on-year.
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HDBank officially undertakes mandatory transfer, beginning a period of stability and growth for DongA Bank
Following the transfer, DongA Bank will operate as a single-member limited liability bank fully owned by HDBank, ensuring all rights of depositors and customers are upheld.
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Bank transfers lead to rebranding phase
Vietnam’s banking landscape is being reshaped by mandatory transfers, marking a pivotal step in stabilising weak banks and strengthening the sector.
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Banking stabilisation on cards with mandatory deals
The domestic banking merger and acquisition landscape is being reshaped by mandatory transfers, marking a pivotal step in stabilising weak banks and strengthening the sector’s foundation.
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Acquisitions to help boost restructuring of weak banks
Despite the financial hurdles in restructuring zero-VND banks, the process also presents immense opportunities for acquirers as they can leverage the restructuring to strengthen their market presence, long-term strategies, and foreign ownership limits.
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Individual customers' bank savings hit record high
Individual customers' banking deposits hit a record high of more than VNĐ6.83 quadrillion as of the end of July 2024, newly released data from the State Bank of Vietnam (SBV) shows.